Another reason for stock prices to rise from here--aside from very positive contrarian market sentiment indicators and the oversold nature of the market--is recent behavior by corporate insiders.
The latest insider sales/purchases ratio is 1.58:1, which is extraordinarily low. Over the past decade, the insiders on average sold 3.4 shares of their own company's stock for every share purchased. So corporate insiders are now historically quite optimistic about their own company's shares.
At the high in the stock market a couple of months ago, insiders sold 6.86 shares for every one they purchased. Good call. Stocks have had a significant decline since that point. The current level of insider sales to purchases is only the fourth time since the market bottom in March, 2009 that the ratio of sales to purchases has been below 2:1. Each of the other three times marked a significant interim low in the stock market.
I reiterate: buy more stocks.
S & P 500: 1387